When you go real estate shopping, remember that you’ll need to factor the price of government charges like stamp duty into the cost of a property. These can change depending on what state you’re in and what house you’re buying, so check out our stamp duty calculator for an estimate of what it might cost to make your dream home a reality.
What is stamp duty?
Stamp duty is a government charge that you’ll have to pay when you buy a new home or investment property. It’s calculated according to the price of the property you want to buy and the regulations of the state you live in - each state is slightly different, which can make it difficult to determine how much you’ll pay. That’s where our stamp duty calculator comes in. It takes into account the different rules for your state, plus the details of your loan to give you an accurate estimate of the cost you’ll be up for.
What other costs should I be aware of?
The mortgage registration and transfer fee are other government fees on your new home that the calculator will take into account for you, but there are other costs involved with buying a new home that you need to consider. These include ongoing home loan fees, building inspection and conveyancing fees. Plus, you may need or want to opt for some insurances, like mortgage lenders, home and contents and income protection insurance.
Is there any way to save on stamp duty?
Yes, but only for certain home buyers. First home buyers can enjoy concessions or exemption from stamp duty in every state, although the details of what each state offers differ. Some states also offer concessions for low income households buying lower value properties. When you choose your state on our stamp duty calculator, it will show you savings from the first home owners grant, but keep in mind that any other concessions for your state may not be shown.
Where can I find the best home loan deal?
We’re glad you asked! If you’d like to browse the whole market for the best deal around, check out our home loan comparison table. If you want some more personalised results, pop over to the home loan search tool, where you can enter your details and get a comparison of the home loans that best suit your situation.